Ver Angola

Raw Materials

Oil production fell in November to 1.179 million barrels per day

Angola produced 1.179 million barrels of oil per day in November, 6,000 less than in October, according to the monthly report by the Organization of Petroleum Exporting Countries (OPEC).


The figures published this Monday, based on data from secondary sources, show a drop in production, after a fall of 51 thousand barrels per day in October, compared to the previous month.

In September, OPEC counted 1.236 million barrels per day, with this production falling in the following month, to 1.185 million barrels per day.

Angola maintained its position as the second largest African crude producer in OPEC, behind Nigeria.

Nigeria, the African leader in oil production, has seen its daily production also decrease, to 1.472 million barrels, although its growth has been higher, at around 10,000 barrels per day.

During practically the entire year of 2016 and until May 2017, Angola led oil production in Africa, a position that it has since lost to Nigeria.

Production in Nigeria was conditioned, between 2015 and 2016, by terrorist attacks, armed groups and internal political instability.

The most recent OPEC report also states that, in terms of "direct communications" to the organization, Angola produced 1,219 million barrels per day in November, 25,000 more barrels per day than in the previous month.

In the case of Nigeria, daily production stood at 1.329 million barrels in November, although it decreased by 18,000 barrels per day compared to the previous month.

Due to the consequences of the covid-19 pandemic, with the impact on the economy and the decrease in consumption, the OPEC Joint Technical Committee has been recommending cuts in oil production.

The pandemic has hit oil demand due to the global economic slowdown, with restrictions on circulation, teleworking and reduced travel causing energy consumption to drop.

Angola was elected, on 30 November, to the rotating presidency of the OPEC ministerial conference in 2021, replacing Algeria.

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